LCIA-MIAC Joint Venture Agreement Terminated

The London Court of International Arbitration (the LCIA) and the Government of Mauritius have announced the termination of their joint venture which established the LCIA-MIAC Arbitration Centre. LCIA-MIAC was created in 2011 as a focal point for international arbitration in Africa. In terminating the joint venture both the LCIA and the Government of Mauritius have nonetheless restated their commitment to international arbitration both in and in relation to Africa.

The termination will take effect from 27 July 2018. Parties to contracts should not include provisions for LCIA-MIAC arbitration in their arbitration agreements after this date.

The LCIA will continue to administer arbitrations and mediations arising out of agreements referencing the LCIA-MIAC Arbitration Centre which have already been concluded or which are inadvertently concluded up to 31 August 2018. For those agreements, parties should refer to the newly amended LCIA-MIAC Arbitration Rules 2018 and LCIA-MIAC Mediation Rules 2018.

A new arbitration centre (entirely separate from the LCIA), the Mauritius International Arbitration Centre (MIAC), has been set up with the support of the government of Mauritius. Along with administering new arbitrations arising out of agreements which reference MIAC alone, MIAC will administer arbitrations and mediations arising out of agreements which reference the LCIA-MIAC Arbitration Centre and are inadvertently entered into after 31 August 2018. MIAC has published a new set of rules, the MIAC Arbitration Rules 2018. Based on the UNCITRAL Arbitration Rules 2010, these will come into effect on 27 July 2018.

For more information, please contact Vanessa Naish, Professional Support Consultant, or your usual Herbert Smith Freehills contact.